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ceiling extension. in other words no big deal. he's made a lot of demands here. i think the people in congress are willing to say we work together on a lot of things. let's work this out. and even maybe, if it ends up being a two-step process rather than all at once. >> and how does he save face if that happens? he doesn't want to say i lost public they got everything they wanted? >> we'll try to help him find a way to get off of the limb he's out on if that is what it takes. we've got to save money, not spending so much. extending the debt ceiling so our credit worthyness does not fall into question f you can't do it at once, then let's take it and bite-sized pieces where we can get the job done. this may take longer. >> thank you. >> thank you. >> and now the topic of the white house, what is going on behind the scenes there? is politics in the equation? sam, how is the white house doing in this? >> doing just slightly better than gone kon gres, not good at all. we know washington is broken for years, we're seeing duct tape and coat hangers holding it together are coming off, too
barns is here and member of the gang of six joins us and says we need to do big thicks to solve this crisis. is speaker boehner's proposal big enough for him? what does he think of senator rere [ male annocer ] things seem better with travelocity's best price guarantee. our girl's an architect. our boy's a genius. we are awesome parents! biddly-boop. [ male announcer ] if you find a lower rate on a room you've booked, we won't just match it. we'll give you $50 towards your next trip. [ gnome ] it's go time. >> greta: okay let's face it. default is bad. many describe it as catastrophic. this can scare investors and businesses around the world and we're all connected around the world. and the asian markets are open now and how are those markets react something peter barns joins us. >> asian markets are up now. >> greta: why? >> because did he the do not believe we're going to default or have a downgrade. u.s. stock markets don't, either z bond markets because if they did, if they thought there was going to be a default or a downgrade markets would be so much lower where they are n
fitsity still. there's no legislative language. it looks like what could be a pretty big tax increase. the spending cuts i think are highly uncertain. it instructs the various committees of the senate and the house to come up with these spending cuts. we have no assurance that they will do that. we have no idea how they'll do that. then we asked the senate to vote on that. all of which suggests to me there are a number of ways in which this could fall apart. i give these guys all the credit in the world for really struggling and trying to make some progress on a tough issue. there's no assurance that it results in an outcome. if we can't agree on spending cuts now, why should we suppose at the end of this process which after all has been available to us for two years the senate won't even pass a budget, why we think that this will result in real spending cuts is not clear to me. >> the other dynamic here is the mcconnell-reid proposal. that is going to get to the floor at some point. now the idea of being that the gang of six proposal is too late to be scored by cbo to really be put i
're still fighting that fight? >> look, the big grand bargain is still on the table. that deal is there if the speaker wants to return to the table and negotiate it. we came very close. the president and the speaker did. and that opportunity still exists. secondly, the helpful proposal senator reid put out does not include up front the tough issues of entitlement reform or tax reform, it creates a committee that would look at those issues on a fast-track basis by the end of the year. that's not possible, we prefer one that does it all at once. however this turns out if we don't get the tough issues addressed because they're essential to address the deficits and long-term debt we're going to return to the debate. because the public supports a balanced approach. it's not the right way to do this if we don't ask sacrifice from everybody. not just one sector or a limited number of sectors from the society. >> let's listen to what the president said last night, to voice support for a bipartisan deal. let's listen. >> the american people may have voted for divided government, but the
it would have no choice but to default on some big bills, the ceo of walmart told congress today the squabbling here in washington could have a huge negative impact nationwide on an all fragile recovery. >> a default and the ripple effect i think would be impactful and representing our consumers, we think that that would be very, very difficult for the american economy to withstand at this point in time in our history. >> that's here at home. >>> then there are global worries. concerns that a default or even a close call here could rattle international markets and international economies like that domino effect back after the big wall street meltdown a few years ago. >> the united states is the largest economy in the world, one that matters, one that has spillover effects, not just around the borders, but on a complete basis, globally. >> so, the stakes, they're obvious. the path to the solution, however, not nearly as clear. >> is it today, is it tomorrow, is it friday? magic things can happen here in congress in a very short period of time under the right circumstances. >> now,
and gloom for the market watchers. what's the truth here. >> traders for a long time figured this was no big deal a big oner. recently they started to take action pulling gold prices higher over $1,600 a troy ounce and a weak dollar means that oil prices are spiking higher almost to $100 a barrel. bar the door if we actually have a default then you could see the big impacts a big market sell-off spiking interest rates. >> shepard: default a much bigger deal than a downgrade. a lot of folks suggest a downgrade coming either way. >> a downgrade could come any time. very big impact on consumer interest rates, mortgage rates, small business loans. you name it, they become more exeivel if those interest rates move higher. also stocks could sell off not good news for your 401(k), shep. >> shepard: no doubt. gerri willis fox business news. her report 5:00 eastern time, 4:00 central on the fox business network jewels up the dial. one republican leader says president obama would rather give speeches about the debt crisis than find a solution. but the president's experts say he is the one actually tal
aunque no parece estar tan tran self. big bad john ♪ >> reporter: john boehner, the plain-spoken man from ohio is under intense pressure to line tranquilo como siempre up every republican vote he can get to get his revised bill este senador esta tratando de c through congress. by all accounts, the big meeting with his fellow republicans is tense. in no uncertain terms, the speaker tells hard-line conservative who's are in no immediate to compromise to get in line behind his bill. conseguir todos los votos ♪ everybody knew you didn't give que pueda no lip to big john ♪ w>>> sreÑor orador, es justo dciecir >> mr. speaker, is it fair to say you have a bit of a rebellion on your hands, or do you feel -- que tiene una pequeÑa rebelion >> i have a little bit of rebellion on my hands every day. tengo un pporoblema it comes with the territory. >> you're not worried? viene con el territorio >> never let them see you sweat. no se ve contento >> you don't look happy on the front page of the "new york times". nlen la primera pagina del nyueva it says "boehner's grip on his
, and everything, they give big tax breaks for the oil companies. the big manufacturers. they're taking jobs away from us. and why they think it is best to do that. i need an answer to that, because i work 40 years of my life, and now i'm disabled. and now they're talking about cutting everything. i just don't think -- i've even put my life on the line for this country, vietnam. why they think it's the right thing to do. host: thanks for your call. next up, a comment from hewitt, texas. tony, a republican there. good morning. caller: good morning. how's everybody there this morning? host: it's a little hot both temperature-wise and internally i think here. caller: yeah. you know, we deal with a few facts here this morning. that cut, cap and balance that was passed did two things that everybody just is totally bent out of shape about. one of which is that it would raise the debt ceiling, and we would give that community organizer everything he wanted. it also, at the time, would say that the united states would even have a downgrade in its debt rating. and what do we do? well, you got the presiden
, of course, we know how things will go from there? >> laura: before we go to ed, tell us about this big balanced budget amendment added after all this tea party pressure. added this to the final boehner bill, passed with still a squeaker vote what does that actually mean. >> 6:30 tonight eastern time, the second boehner bill passed. it's really the thirds if you count cut, cap, and balance. this bill which was so unpalatable to his tea party pull it from consideration. consideration. by virtue of still the same bill two rounds of increasing the debt ceiling. so on. for the president to get round 2 of the extension to the debt ceiling, congress must have sent to the states for their ratification a balanced budget amendment. that requires in each chamber, the house and the senate, a two thirds vote. >> laura: they don't have two in other words of the house of representatives. >> the idea that they would ever see a two thirds voted for balanced budget amendment is folly. but this was what the tea party caucus demanded. >> laura: let's go to ed henry. ed is joining us now from the white hou
this thing started last sunday. as you say, the president has said he wants this big deal but this thing broke up today, the meeting ended with the president telling these leader toss go back to their members and ask them what do they think can pass and then report back to the president with something that they believe can pass by this saturday morning. they're not even having a meeting tomorrow. now, despite all that i am told by my sources that there's not a lot of optimism that this particular negotiating process here at the white house is going to actually end up leading to the real deal, and a lot of effort and attention is now turning to a different process that's happening in the u.s. senate and another alternate deal that's being worked out between the two senate leaders that could instead end up raising the debt ceiling. a lot of hope is centered there, anderson. >> basically what is that deal? what is that negotiation based on? that's harry reid and mitch mcconnell. >> it's a little complicated but it would effectively raise the debt ceiling which would allow for spending cuts
>>> good thursday, everybody. i'm contessa brewer covering the big news coast to coast. we begin with breaking news out of texas, where authorities have arrested an army private assigned to fort campbell, kentucky. officials found bomb-making materials in his hotel room. that arrest came after someone reportedly overheard the private threatening to stage an attack on the army post at fort hood. fort hood was the scene of a deadly shooting attack in november 2009. major nadal hassan is accused of killing 13 people and wounding dozens of others. pete williams has the latest from washington now. pete, what do you know about this arrest of the private? >> reporter: right. well, good afternoon. you saw killeen, texas on that map. that's where he was arrested. he's a private first class assigned to fort campbell, but arrested in texas yesterday and according to law enforcement officials, what happened is he went into a gun store in killeen, texas and was asking questions that the gun store owner thought was suspicious. he was also buying smokeless powder which can be used for a variety
of secrecy. >>> for one iraq war veteran a trip to the ballpark really paid off, how his big win will change his life. >>> check out some of the other stories on our rundown. the news edge at 11:00 is coming right back. >> this is fox 5 news edge at 11:00.  >>> it's been almost 10 years since the 9/11 terror attacks and tonight former president george w. bush is trying to set the record straight. remember this picture capturing moments after the president learned of the attack? well, mr. bush now says his apparent lack of reaction was a conscious decision to project acene of calm. the former president talked about his -- a sense of calm. the former president talked about his memories of that day for a national gee graphics documentary which will air next month. >>> -- gee graphics documentary which will air next month -- geographics documentary which will air next month. >>> nixon was interviewed in june, 1975, 10 months after resigning. historians sued to have the documents released saying the historical significance outweighs arguments for secrecy. a judge agreed,
. you have a big group of new freshman republican members in the house. they are not budging. they're not listening to just about anybody. it's -- they're going on what they believe is a mandate with this big tea party election in 2010 and they haven't really budged. you're seeing business leaders on wall street saying do something, do anything. this group of freshman republicans aren't really budging. will it have been an impact heez emails and phone calls, who knows. it may mean that house republican leaders have to shift away from what these small group of freshman republicans want. we'll see if it has an impact or not. there's not a whole lot of time left. >> indeed. thank you so much. we will be talking with nbc's chuck todd in a few minutes. >>> the first tropical system of the year has fizzled out. tropical storm don has weakened into a tropical depression. the storm made landfall along corpus christie. it brought little relief to the record breaking heat in the lone star state. here's with your saturday forecast bill karins. good saturday morning to you, bill. >> all the hy
and that could seem like a big hit, but close to 97 points today, but obviously celebrated by day's end but with the losses here, we are battling reaction to not only no progress on talks in washington, but not much good news on the economy, in general, with more indications of that from a hot -- host of companies including merck laying off 13,000. and at 6:00 p.m. eastern, we are waiting for two hours when the house of representatives will take up the boehner measure. that is the measure that will include a balanced budget amendment to make it more palatable for conservative members who did not quite fine it their cup of tea. the tea partyers were not fond of it and even if john boehner gets the vote what happens after that? harry reid has all but said he will table it, and it is not going anywhere, and he has his own plan in the senate which will be introduced this weekend, which is not palatable to all of his members and may not make the 60 vote he needs and after the senate would not get any support in the house of representatives. so we are at loggerheads. reaction from republican
of the problem we face as a nation. i'm a big supporter of cut, cap and balance. we had a historic vote last week that i believe was one much the most powerful votes for a taxpayer and to move to a different position wasn't some where i could go. no, it wasn't difficult. >> greta: it had some wording about a balanced budget. that didn't satisfy you? >> that was after $900 billion released and credit extended as a nation. we were saying you can have 900 billion more dollars to spend but later we will consider a balanced budget amendment. my position is we need to discuss the reforms in place now today before we extend our credit limit any more. there were are cuts and savings. only $7 billion next year compared to $900 billion of credit being released and that is nothing. that is absolutely nothing. it is one fifth of one penny of what we spend each year is what we were going to say. >> greta: sitting on the house floor and you are voting no and speaker wants you you to vote yes on it. like bad vibes, you sort of want to get out the door? >> not really. >> greta: did you tell him yourself you were
a big difference. after beating the yanks, orioles watches the yanks pull var rise. new york just continues to rack up 12 runs in the first inning alone. that's a team record. the o's go on to lose this one 17-3. oh well. we will wrap up this series with the new york yankees this afternoon and you can see the game live right here on wjz. 1:00 p.m. is the first pitch. >> you see the final score, did they not go home crying? >> our producer malachi is a die hard yankee fan. >> good point tim. >> come on. kind of a team is that? 17 after you hit 12. >> really. >> give me a break. orioles did well and stopped at 17. good grief. you know, we don't cry. we find the bright side. we are looking a at a bright side with our weather today. it was a really nice day yesterday. did you enjoy yesterday? >> it was a good day. i'm trying to think what did i do. i can't remember. >> that's a good weekend. when you can't remember with you did. wow, -- when you can't remember what you did. we are looking at a pretty decent day. much like yesterday, the humidity level is low. we're still focused on th
opposition to this big, but there, i predict, will be no democrat for this bill so because bipartisanship was not sought. i'm a diely concerned it would pus us right back on the praecipe of imminent default in just a few months, casting a pall of uncertainty. and leading to a job-destroying credit downgrade. >> i urge my colleagues in the name of sanity and in the name of ensuring in a we pass this measure and we send it to our colleagues in the united states senate. >> here areas a quick reality check if this bill passes the house, it's going to hit a big roadblock in the senate. senate democratic caucus, every member of that caucus has signed onto a letter say they will oppose the bill, and senate majority leader harry reid announced today they will quickly take up the bill in the senate this evening, but only to table the measure, a vote to table the measure effectively just setting it aside. that doesn't mean think couldn't take it back up if they wanted to, but it's a quick way legislative for democrats to show there is not enough support for this big to pass the senate. it brings us
on this bill today. but i think one of the big problems you face is that once he does send -- gets this through, if he does get it through, it's going to be very hard to get any of his republicans to vote for the real compromise in a day or two or three. >> reporter: well, that's exactly right. both of your points right. first of all, there are no negotiations going on in that final compromise right now because all the focus is getting this passed in the house. speaker boehner isn't exactly taking calls now from democrats. but he's trying to get his own republicans in line. once he does this, this is going to be very difficult for him to get -- to go any further by way of compromise. if there is a compromise, it's going to take a lot of democrats to pass it in the house. >> a lot of democrats, that's exactly right. okay, jon karl, jake tapper, thanks very much. key market openings sunday night, the next big deadline to watch for, as well. >> reporter: that's right. >> the asian market. elizabeth, this is just so uncertain going into the final weekend. >> well, and certainly the public is starti
the crunch day is actually august 3rd, that's the day when the government has a big $23 billion social security payment and it has between $10 billion and $12 billion in tax revenue coming in. i think the really big issue for the treasury is going to be how it distinguishes between, if you will, paying back the money it already owes, paying back the government bond holders, and paying its ongoing running costs, things like social security, medicare, medicaid, military salaries and so forth, and i think the betting is that the government will put, will give a priority to paying the bills it already owes, to paying the bond holders, simply because if you don't do that, you go into massive default, and the whole global financial system i think really starts getting shaky, but not paying some of the big government commitments within the united states, that's going to get painful pretty fast. >> not paying the social securitys, the medicares, the medicaids of the world or even our defense budget that's as big of an issue for many in many mind as defaulting on our debt which would be a nonpa
will be here on set with us. >> this is big. >> huge. >> willie, who is going to be number one? are we looking at oklahoma? alabama? >> could be a tie situation. i have to say. we should point out vanderbilt got a great recruiting class. >> they did have a great recruiting class. >> they did. >> my understanding is the average s.a.t. just above 1300. unprecedented. for a co--ed football team. [ male announcer ] get ready for the left lane. the volkswagen autobahn for all event is back. right now, get a great deal on new volkswagen models, including the jetta, awarded a top safety pick by the iihs. that's the power of german engineering. hurry in and lease the jetta s for just $179 a month. ♪ visit vwdealer.com today. but when she got asthma, all i could do was worry ! specialists, lots of doctors, lots of advice... and my hands were full. i couldn't sort through it all. with unitedhealthcare, it's different. we have access to great specialists, and our pediatrician gets all the information. everyone works as a team. and i only need to talk to one person about her care. we're more than 78,000
a secondary effect on big businesses throughout the washington area. many are now having to implement a contingent plan in -- contingency plan in case of a no deal by tuesday. we explain on capitol hill why this is taking a toll on local markets. >> reporter: bruce, still the same, not a whole lot of activity up here, not one that's leading towards a solution, at least. now business leaders here in washington say they're getting ready to take a hit, one that they're describing as an embarrassment to washington. nine of the 15 counties in the country, the top ones are here, this really is embarrassing and it's a travesty because it's going to make money more expensive for those counties and those counties have never had any problem. >> reporter: jim dinegar is the ceo for the greater washington board of trade. he says as the time winds down toward a debt default on tuesday, business leaders in the washington area are growing frustrated and concerned of the ripple effect that a no deal will cause. dinegar explains of the $fourteen.3 debt is defaulted on, area businesses could crash and
finally came out publicly with a bipartisan, big, tough plan, a framework for how to deal with our very real challenge with our record deficits and debt. it's my hope that the senate will consider cut, cap and be balance, defeat it and then put a responsible plan on the floor, one that shares the sacrifice across all the areas of our budget and that puts forward the kind of framework that everyone can support. bill: okay. on the cut, cap and balance, so you agree with harry reid that this is a waste of time on a balanced budget. why would a balanced budget amendment when polls show 72% of those surveyed favor it, why would you be opposed to that, senator? >> i don't speak for leader reid, obviously, but what i think the leader was suggesting was that with ten days left until we default on america's mortgage, we should be focusing on things that have a very real chance of passage in both houses and that can avoid the catastrophic consequences of defaulting on america's debt. i think leader reid and many of us in the senate are concerned that if we simply keep ping-ponging back and forth
it could be a big day for our whole entire country. >> and the news is whether we've got a deal or not. shortly after ten o'clock last night. harry reid said you know, i was going to have everybody show up in the mid feel the night and take a vote at 1 a.m. and he received word from the white house that apparently, the white house and this really hacks him off, you know, because it kind of bypasses him, and former speaker pelosi, dealing directly with mitch mcconnell, joe biden 6789 it sounds like they've got a deal, and close to a deal and some of of the frame work as well to talk about it. >> yeah, it looks like it's been going back and forth and take a look, it looks like debt ceiling increase, 1.2 trillion to 2.4 last night last through the night and living in my office, as high as 2.8 trillion dollars in debt ceiling increases, spending cuts have to be about the same amount commensurate. >> dollar for dollar. >> at least if not more. >> and guys, there's a little bit of wrangling whether or not that balanced budget amendment that john boehner needed so badly to get the house to vo
,000 donors. >> willing to go big here. >> a shock and awe report. >> what a juggernaut this was for the president. >> mr. mcconnell said the day i was elected president, to see me beat. >> now i'm not the only one who knows the president is winning. >> republicans don't have a chance. >> mr. mcconnell who waves the white flag. >> mcconnell squawks, boehner balks, and cantor woes. >> trying to win the spin game. >> the senator republican leader says hey, i got this other nifty back-up plan. >> this is a complete betrayal of the tea party. >> let's be in a position to blame president obama. >> mitch mcconnell trying to become senator majority leader. >> tea party republicans are not exactly on the same page. >> inmates are truly running this asylum. >> we cannot go on scaring the american people. >> piece of legislation. >> this is a misnomer. >> as i fumble for the acronym, it guarantees to keep the promise. >> continue to be challenged by pledges they just can't keep. >> there's something out there called the marriage vow. >> michele bachmann, who attempted to explain w
by the congressional budget office. and when it comes to reid's plan, it was off by $500 billion the big difference was that it did deliver on 2 is $.2 trillion in sages over a span of 10 years and -- and they argued that each other's plan had no chance of passing and they claimed theirs is the only proposal to end up ending crisis. >> economists, market analysts and agencies said the world economy can't bear this kind of uncertainty any longer. and they set a short-term as long as of an umpending default that results in the loss of our aaa rating that kept interest rates low in this country and saved consumers money for more than 70 years. >> if i could get more, i would get more and at this hour n my opinion, there is no ability to get more and the plan on the table is the best opportunity we have to hold the president's feet to the fire. >> and the plan would lift the debt ceiling until early next year. senator reid said his plan would not only cut government spending like speaker baehner's but lift it until the end of 2012 fick. and the president -- 2012. the president would not sign a short-te
Search Results 0 to 49 of about 432 (some duplicates have been removed)